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Mike Cavanagh Inks Comcast Contract Extension Ahead of Co-CEO Promotion [Yahoo! Finance]
Last netflix, inc. earnings: 4/21 04:00 pm
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The company had previously announced the promotion at the end of September. Comcast disclosed the contract Tuesday evening in an SEC filing. More from The Hollywood Reporter Activist Local TV Stations Got Jimmy Kimmel Suspended From ABC. Disney Says It's Proof the System Works Comcast President Says Company Has "Damn Good Hand" in Media, Despite Losing Warners Deal Hollywood Blockbuster: Netflix Poised to Win Battle for Warner Bros. Cavanagh's new contract runs through 2028, and includes a salary bump to $2.75 million per year (up from $2.5 million currently), and a target cash bonus of 300% of the salary (that's $8.25 million). He also received $35 million in performance-based restricted stock units. His total compensation last year was $28.3 million, per filings. Cavanagh is set to become co-CEO Jan. 1, just ahead of Comcast's planned Versant split, which is slated to be finalized the following week. It's a big job for the former JPMorgan banker, who was previously C
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